..... illegality or violated any of the rights of the applicants.12. learned counsel for the exchange, however, has urged rather forcefully that the exchange being a body incorporated under the companiesact and so being not a state under art. 12 of the constitution of india, is not amenable to the writ jurisdiction of this court. the appellant and the writ ..... exchanges is or are situate, and, on the publication thereof in the gazette of india, the rules so made or amended shall, notwithstanding anything to the contrary contained in the companiesact, 1956 (1 of 1956), or in any other law for the time being in force, have effect as if they had been made or amended by the recognised stock ..... act says, which is desirous of being recognised for the purposes of this act may make an application in. the prescribed manner to the central government ..... or dealing in securities.' 'contract' has been defined under the said act to mean -- 'a contract for or relating to the purchase or sale of securities'. 'securities' under section 2(h) included 'shares, scrips, stocks, bonds, debentures, debenture stock or other marketable securities of a like nature in or of any incorporated company or other body corporate'. any stock exchange, section 3 of the .....